All of the following illustrate potential shortcomings of using patents to promote innovation, except: Select the correct answer below: Patents may sometimes cover too much or be granted too easily. In fast-moving, high-technology industries, patents may be irrelevant by the time they're approved due to changing technology. Not every new idea can be protected with a patent or a copyright. Patents don't allow for the inventor to earn a good return on an invention.
All of the following illustrate potential shortcomings of using patents to promote innovation, except: Select the correct answer below: Patents may sometimes cover too much or be granted too easily. In fast-moving, high-technology industries, patents may be irrelevant by the time they're approved due to changing technology. Not every new idea can be protected with a patent or a copyright. Patents don't allow for the inventor to earn a good return on an invention.
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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Question
![All of the following illustrate potential shortcomings of using patents to promote innovation, except:
Select the correct answer below:
Patents may sometimes cover too much or be granted too easily.
In fast-moving, high-technology industries, patents may be irrelevant by the time they're
approved due to changing technology.
O Not every new idea can be protected with a patent or a copyright.
Patents don't allow for the inventor to earn a good return on an invention.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Feda77d24-879a-4257-ad32-00b1f0124616%2F79e6c526-d513-42a3-bf20-61c633a5ad39%2Ffvdees7_processed.png&w=3840&q=75)
Transcribed Image Text:All of the following illustrate potential shortcomings of using patents to promote innovation, except:
Select the correct answer below:
Patents may sometimes cover too much or be granted too easily.
In fast-moving, high-technology industries, patents may be irrelevant by the time they're
approved due to changing technology.
O Not every new idea can be protected with a patent or a copyright.
Patents don't allow for the inventor to earn a good return on an invention.
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
Step 1
Inventors are given patents, which allow them the exclusive right to create and sell their ideas for a set period of time. The inventor will be protected against other people or firms selling or creating their invention during this time period.
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